When an accountant negligently prepares a financial statement knowing that the client intends to use it in obtaining a loan from a bank, the accountant will be liable to whichever lender actually makes the loan under the __________rule
A) known user
B) contact
C) foreseeable user.
D) privity
C
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The amount a company would pay to acquire an asset it now holds is the asset's
A) ?historical cost. B) ?current replacement cost. C) ?current exit value. D) ?present value.
________ occurs when someone voluntarily offers payment to get an illegal advantage
A) Nationalization B) An economic sanction C) Bribery D) Expropriation E) Extortion
A state court cannot exercise jurisdiction over property located within the state's boundaries regardless of the property owners' location.
Answer the following statement true (T) or false (F)
You have purchased a Treasury bond that will pay $10,000 to your newborn child in 15 years. If this bond is discounted at a rate of 3.875% per year, what is today's price (present value) for this bond?
A) $8,417 B) $8,500 C) $5,654 D) $10,000